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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of the changes in outstanding stock options The following is a summary of the changes in outstanding stock options for 2016:
 
Share units             (in thousands)
 
Weighted
Average
Exercise
Price / Share
 
Weighted Average
Remaining
Contractual
Term (Years)
 
Aggregate Intrinsic Value (in millions)
Outstanding at January 1, 2016
2,561

 
$
31.16

 
6.8
 
 
Granted
463

 
$
37.90

 
 
 
 
Exercised
(841
)
 
$
28.11

 
 
 
 
Forfeited and expired
(57
)
 
$
35.87

 
 
 
 
Outstanding at December 31, 2016
2,126

 
$
33.71

 
6.9
 
$
34

Options exercisable at December 31, 2016
1,183

 
$
31.01

 
5.7
 
$
22

Vested and non-vested expected to vest as of December 31, 2016
2,060

 
$
33.59

 
6.9
 
$
33
Weighted-average assumptions The following are weighted-average assumptions used for 2016, 2015, and 2014:
 
2016
 
2015
 
2014
Dividend yield
1.63
%
 
1.57
%
 
1.34
%
Volatility
28.87
%
 
27.77
%
 
28.49
%
Risk-free interest rate
1.41
%
 
1.64
%
 
1.82
%
Expected term (in years)
5.60

 
5.58

 
5.60

Weighted-average fair value per share
$
9.05

 
$
8.49

 
$
9.71
Summary of restricted stock activity Our restricted stock units activity was as follows for 2016:
 
Share Units (in thousands)
 
Weighted Average
Grant Date Fair
Value / Share
Outstanding at January 1, 2016
1,013

 
$
34.52

Granted
314

 
39.63

Vested
(344
)
 
30.63

Forfeited
(84
)
 
36.81

Outstanding at December 31, 2016
899

 
37.67
Schedule of Share-based Compensation, Performance-Based Units Award Activity Our ROIC performance share unit activity was as follows for 2016:
 
Share units (in thousands)
 
Weighted Average
Grant Date Fair
Value / Share
Outstanding at January 1, 2016
160

 
$
35.48

Granted
111

 
37.87

Forfeited
(21
)
 
28.82

Outstanding at December 31, 2016
250

 
37.11


TSR Performance Share Unit Grants
The following is a summary of our TSR performance share unit grants for 2016.
 
Share units (in thousands)
 
Weighted
Average
Grant Date
Fair Value /Share
Outstanding at January 1, 2016
—

 
$
—

Granted
111

 
46.13

Forfeited
(3
)
 
45.34

Outstanding at December 31, 2016
108

 
46.15
Fair value assumptions for performance-based awards The following are weighted-average assumptions for 2016 grants.
Volatility
31.7
%
Risk-free interest rate
0.88
%
Dividend yield
1.64
%